<blockquote>'
PBS NewsHour correspondent recently sat down with colleague and business and economics correspondent Paul Solman and asked him how the series of pieces he's been doing in recent weeks and months about people who are underemployed, unemployed, and really trying to find work have been different than the range of stories he's been doing for the show for so long.
<blockquote>The striking thing -- one striking thing -- and actually, a somewhat disturbing thing when you're ...doing the interviewing, is how many of them are now -- or have been in the last six months months, let's say -- crying on camera. It's just happening spontaneously. Now, I've been doing reporting on TV about business and economics for 33 years -- I swear to you, in the last six months I've had more people cry on camera than in the entire thirty-two-and-a-half years before that.</blockquote>
Just in case there are any investors reading this and looking for any sort of excuse to put their buying boots on, he said "crying," not "laughing," or "smiling," or "cheering." Oh, wait, those are also bullish words these days, aren't they?
-
'It's Just Happening Spontaneously', September 22, 2010</blockquote>
*** '..political capital..'<blockquote>'...It's hard to say if Bernanke's statement is an outright lie or if he is delusional enough to believe the nonsense he is spouting. The safe action here is to assume Bernanke is a delusional liar.'
-
Reading Between The Lies, September 22, 2010
'Dear Mr. Buffett:
...
You may be interested in knowing more details as to why I sold my shares, as the majority of letters that continue to pour in to Kiewit Plaza surely share a similar tone to this one. You and Charlie “Fear” Munger continue to misrepresent history, and that is why the public’s rage at you and at Wall Street grows with every passing day. And that level of anger will remain elevated and growing and directed at the miscreants known as the “bailout sympathizers” for as long as the unemployment rate does. We could and should have wiped out the “too big to fail” equity holders before we wiped out the tax payer. But that would have meant Berkshire’s precious book value would have taken a major hit, and so you used up all of a billionaire’s political capital and traded the ethics and morals you seemingly worked a lifetime to build, to prevent that from happening. Was that trade a good one?
- “JL”
-
Janet Tavakoli on the "Myth of the Immoral Debtor"; An email from a Charlie Munger student; "Business as Usual", September 23, 2010 </blockquote>